Economy - overview Estonia, as a new member of the World Trade Organization, is steadily moving toward a modern market economy with increasing ties to the West, including the pegging of its currency to the euro. A major goal is accession to the EU, possibly by 2004. The state of the economy is greatly influenced by developments in Finland and Sweden, two major trading partners.

GDP purchasing power parity - $14.3 billion (2001 est.)

GDP - real growth rate 4.7% (2001 est.)

GDP - per capita purchasing power parity - $10,000 (2001 est.)

GDP - composition by sector
agriculture: 6%
industry: 28%
services: 66% (2000)

Population below poverty line 25% of households (2000)

Household income or consumption by percentage share
lowest 10%: 3%
highest 10%: 29.8% (1998)

Distribution of family income - Gini index 37 (1999)

Inflation rate (consumer prices) 5.8% (2001)

Labor force 608,600 (2001 est.)

Labor force - by occupation industry 20%, agriculture 11%, services 69% (1999 est.)

Unemployment rate 12.4% (2001)

Budget
revenues: $1.89 billion
expenditures: $1.89 billion, including capital expenditures of $NA (2002 est.)

Industries engineering, electronics, wood and wood products, textile; services; transit, information technology, telecommunications

Industrial production growth rate 5% (2000 est.)

Electricity - production 7.056 billion kWh (2000)

Electricity - production by source
fossil fuel: 99.77%
hydro: 0.06%
other: 0.17% (2000)
nuclear: 0%

Electricity - consumption 5.362 billion kWh (2000)

Electricity - exports 1.2 billion kWh (2000)

Electricity - imports 0 kWh (2000)

Agriculture - products potatoes, vegetables; livestock and dairy products; fish

Exports $3.4 billion (f.o.b., 2001)

Exports - commodities machinery and equipment 24%, wood products 20%, textiles 17%, food products 9%, metals, chemical products (1999)

Exports - partners Finland 27.6%, Sweden 11%, Russia 8%, Latvia 7%, Germany 6%, US 2.0% (1999) (2001)

Imports $4.1 billion (f.o.b., 2001)

Imports - commodities machinery and equipment 38.5%, chemical products 11.2%, textiles 9.5%, foodstuffs 8.6%, metals 8.1% (2000)

Imports - partners Finland 27%, Russia 10%, Germany 10%, Sweden 8% (2001)

Debt - external $0 (2001 est.)

Economic aid - recipient $108 million (2000)

Currency Estonian kroon (EEK)

Currency code EEK

Exchange rates krooni per US dollar - 17.518 (January 2002), 17.538 (2001), 16.969 (2000), 14.678 (1999), 14.075 (1998), 13.882 (1997); note - the kroon is tied to the euro at a fixed rate of 15.65 krooni per euro

Fiscal year calendar year

NOTE: The information regarding Estonia on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Estonia Economy 2002 information contained here. All suggestions for corrections of any errors about Estonia Economy 2002 should be addressed to the CIA.